Will Reform Of Fannie And Freddie Kill The 30-Year Mortgage?
The sequester is all anybody wants to talk about. I get it: It’s the hip new crisis sweeping Washington. But remember Fannie Mae and Freddie Mac? You know, the once quasi-independent housing giants whose takeover by the federal government has cost taxpayers upwards of $190 billion thus far? Well, Fannie and Freddie are still owned by the federal government and, on top of that, are the only thing holding the U.S.’ badly battered housing-finance system together, as the Feds back 9 out of 10 mortgages issued today.
But Congress and the President have been so bogged down in their never-ending budget battles that we’ve heard little from Washington on this subject in recent months. Until last week, that is, when the Bipartisan Policy Center — a think tank formed by former Senate Majority Leaders Howard Baker, Tom Daschle, Bob Dole, and George Mitchell — tried to bring this very important issue back to the fore by releasing a 131-page report on the future of housing policy in America.
The federal government doesn't own crap, they are up to the eye balls in debt to China.
Won't be long and gas will be $9 a gallon and $7 for a loaf of bread.
All Washington and local governments know how to do is spend our money and raise our taxes. One day there will be a gun rally with the dang things loaded!
The federal government doesn't own crap, they are up to the eye balls in debt to China.
ReplyDeleteWon't be long and gas will be $9 a gallon and $7 for a loaf of bread.
All Washington and local governments know how to do is spend our money and raise our taxes. One day there will be a gun rally with the dang things loaded!
March 5, 2013 at 3:39 PM
ReplyDeleteyou are soooo wrong. My friend it is you that does not own crap.
The government may at any time step in an take everything you own with ZERO explanation as to why.
But you say "There is a Bill of Rights" wrong again. The bill of rights is no longer recognized by our government.
People complain about gas and milk but goes out each day and spends $7.00 for coffee at starbucks.
ReplyDeleteMarch 5, 2013 at 3:53 PM
ReplyDeleteYou'll be the one speaking Chinese, they can pry my steel out of my cold dead fingers.